Grain Technology, the only digital credit card alternative designed to make credit accessible from your existing debit card, no credit check required, today announced survey results surrounding the current perception around community banks in America. Designed to understand people's familiarity with community banks and current trends about banking, Grain surveyed over 2000 community banks users and non-community banks users.

Community banks offer a personal and individualized banking experience while also contributing to the local economy, yet according to data, a third of Americans (34%) have either never heard of a community bank or are not informed enough about them to consider banking with one. However, after understanding that community banks derive funds from and lend to the community where it operates, and that they tend to focus on the needs of the businesses and families where the bank is located, 80% of respondents would consider banking at a community bank.

"Community banks are an integral part of communities across the nation because of the support they are able to provide to local economies and small businesses," says Grain COO and Co-founder, Carl Memnon. "Many people choose to utilize community banks because of the longstanding relationships they've developed with their customers. The credit we provide to our customers comes from community banks, as we firmly believe in the value they provide."

The survey revealed the following insights about how Americans view community banks:

• As more and more fintechs are partnering with community banks, 93% of community bank users say that their bank offers extensive digital banking services to users.

• Over 3/4 of respondents that do not currently use community banks would consider switching to one (77%). 42% of these people stated that they are open, but needed to learn more about community banks first before they would commit.

• 62% of community bank users are satisfied with their bank's current customer service, compared to only 35% of non-community bank users.

• When asked what factors are most important when selecting a bank, more than a quarter (26%) of non-community bank users chose low rates/fees. For non-community bank users, digital options was the second most important, chosen by 13% of respondents.

• Half (53%) of non-community bank users have one credit card, and 67% of them use their debit cards for everyday purchases.

"Seeing that nearly 70% of non-community bank users are using their debit cards for everyday purchases, and half don't even have a credit card, means they are likely not getting any credit from their spending," added Memnon. "We provide customers with lines of credit based on their cash flow so they can continue to use their debit cards, and get credit in the process."

Grain serves as the digital conduit between customers and the community banks and credit unions they partner with, helping to broaden their customer base and credit portfolio. By implementing more technology offerings, community banks can continue to serve their local community while building their customer portfolio much quicker and cost efficiently than they'd be able to otherwise. As technology continues to take over the financial landscape, partnering with a fintech platform is an investment that will play a fundamental role in a community bank's long term success.